Nassau County, N.Y., plans $438.87 million G.O. bond offering

By Sheri Kasprzak

New York, Dec. 1 – Nassau County, N.Y., is set to price $438,865,000 of series 2014 general obligation bonds on Thursday, according to a preliminary official statement.

The offering includes $238,865,000 of series 2014A general improvement G.O. bonds, $140 million of series 2014A tax anticipation notes and $60 million of series 2014B TANs.

The bonds (A2/A+/A) will be sold competitively with Public Financial Management Inc. as the financial adviser.

The bonds are due 2016 to 2030.

The notes (/SP-1+/F1) will be sold on a negotiated basis with BofA Merrill Lynch as the senior manager. The co-managers are J.P. Morgan Securities LLC and FTN Financial Capital Markets LLC.

The 2014A notes are due Sept. 15, 2015, and the 2014B notes are due Oct. 15, 2015.

Proceeds will be used to finance county capital improvements.

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